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Last week, Shanghai copper was weak, scrap copper prices fell by about 1,000 yuan, the current mainstream market bright copper prices are mostly between 40,000-41,000 yuan / ton, but the price difference between the north and south markets is not small, the northern region is generally low
.
Compared with the spot copper market, the domestic scrap copper market has been in a state of short supply, so the continuous decline in copper prices has not caused holders to panic shipments, on the contrary, holders choose not to cover the goods, maintain a wait-and-see, which makes the market supply tighter
.
However, this did not stimulate downstream manufacturers to show signs of raising prices and receiving goods, on the one hand, because there were not many copper rod orders from downstream manufacturers, on the other hand, it was also due to the impact of the Xi'an cable door incident in the early stage, and the cable inspector made scrap copper rod enterprises affected a lot, inhibiting the demand for
scrap copper.
In addition, when environmental protection inspections are still underway nationwide, the northern region is still the national key inspection target, especially in Hebei and Tianjin, due to the establishment of Xiong'an New District, many waste practitioners have been seriously affected by their business, and there are not a few closures, and some manufacturers even have plans
to move south.
The spread of scrap copper prices continued to narrow this week, which damaged the price advantage of scrap copper and limited market demand
.
Despite the lack of guidance on the trend of the LME copper market, Shanghai copper maintained its upward momentum this morning with stronger-than-expected macroeconomic data from China and strong support from the aluminum market, and bullish confidence in the spot copper market was supported, and scrap copper market buying gas heated up and trading improved
.
Last week's copper stocks fell by 43,543 tons, and copper stocks in the Guangdong market also showed a downward trend, and with the start of peak season demand, the industry expects short-term copper prices to rise
further.
At present, the geopolitical crisis has not dissipated, the impact on non-ferrous metals is still continuing, and the evolution of the situation in various places is still the focus
.
In the short term, the supply and demand sides of the scrap copper market are deadlocked, and if copper prices continue to be low, it is difficult to see a significant improvement in the light trading situation of the scrap copper market
.
